Snap Inc. is an American technology and camera company, founded on September 16, 2011, by Evan Spiegel and Bobby Murphy based in Santa Monica, California. It has three products: Snapchat, Spectacles, and Bitmoji. The company was originally named Snapchat Inc. upon its inception, but it was rebranded on September 24, 2016, as Snap Inc. in order to include the Spectacles product under a single company.
The founders own a combined 95% voting power (Spiegel with 48% and Murphy with 47%), which is undiluted and transferable to the other of the two when one retires or dies.
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Snap Inc. Details
Operating Status:Active
Business TypePrivate
HeadquartersSanta Monica, California, United States
Snap’s revenue did not meet analysts’ expectations of $563 million which had a negative impact on SNAP stock price. However, the company managed to increase its daily active user base.
Byte, a 6-seconds video-sharing app created by the co-founder of Vine, could potentially compete with TitTok given the number of downloads it has gained just in the first days after the launch.
It is said that the newly introduced features have been expected by many users.
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